Demica, one of the largest independent providers of working capital solutions, has launched its new Receivable Finance Platform at the Global ABS Conference in Barcelona, Spain.
Growing at 40% per annum and with over $12bn of working capital assets under administration, the Demica platform provides reporting and payment support services to the world’s largest trade receivables banks and investors.This new release enables our partner banks to configure their own transactions through the use of powerful new tools and applications. New online dashboards enable corporate treasurers and internal bank users to view real time performance of receivables finance transactions and underlying portfolio data down to an invoice level.
Importantly the new release allows banks to go beyond trade receivable securitisation structures and configure the full range of receivables purchase structures (with or without recourse) using credit insurance if required. Granular reporting showing discounts and fees on an invoice level support optimal accounting treatment for clients and risk distribution for funders. This development follows extensive investment in the company’s Supply Chain Finance platform which, in the past twelve months alone, has led to five major global banks selecting Demica as their white label partner.
Matt Wreford, CEO of Demica commented: ‘The launch of new Receivable Finance Platform is a significant milestone for us. Taking advantage of over 15 years’ experience working with the world’s leading trade banks, we have delivered a unique platform able to transform the customer experience for both large multinationals and banks. We are excited to be showcasing the platform at the Barcelona conference and look forward to working with our customers on its deployment.'
The platform will be exclusively pre-viewed to selected banks during the Barcelona Global ABS Annual Meeting on 11 and 12 June.